What is your age and net worth?

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:We are 49 and 54. Our net worth is pretty high-I’d say about 10mm+ which includes about $3 million in liquid or easily convertible funds. I know this will sound strange but I don’t feel a can just relax and enjoy because the only reason we have that money is because our parents left us so much. We have no mortgage because we inherited enough to pay of off on our $2m home. We have 3 others we bought as investments that we have also paid off.
BUT we feel strongly that we should pass on what we inherited plus what we have added during our lifetimes to our children to give them the security we have enjoyed just knowing we have financial safety. We do not live a wealthy lifestyle at all except that are paying for private schools for our kid’s and we will pay for college through to masters. Our HHI is $450k so we don’t really have to touch inheritance to live day by day.
We don’t spend money on 80% of what our friends spend money on -new cars every 3 years (we buy used and drive until dead) several holidays a year (we take one) l, upgrading furniture (never unless damaged) and plan to live on our pensions which will be more than enough since I work for an international organization on a decent salary and have a fully funded pension that will last until i die plus medical insurance.
We can have a pretty good though not extravagant life on that and leave what we have inherited plus what we added to that during our lives to our children.

I still only shop in sales, look around for bargains and discounts. I’ve learned how to dress as well as my contemporaries on a fraction of what they spend. They always ask where I bought this lovely outfit or that-usually consignment or eBay or Poshmark. I don’t think I could live without thinking about what I’m spending. I just don’t know how to do that.

I mean this kindly, PP, but it sounds like a good use of some of that money would be a therapist. You seem to have some pretty deep issues about money.

That made me laugh. It’s the British in me and the horror of “spending your kids’ inheritance” .
I don’t think I’m obsessed with money. In fact the opposite. I just do not feel I need an extravagant lifestyle at the expense of leaving my kids with less financial security. It’s a very un American approach but well instilled in me.

Not British with similar stats (no inheritance and house worth less than $2 million), and I feel the same way.

[Anonymous]

At 36/40 NW ~ 500K (excluding home equity)
Now, at 60/64 NW 4.64MM without home (Conservatively allocated, HCL area)
It still doesn't feel like enough given the uncertainty of healthcare in the future, the need to help aging parents, and potential/guaranteed? stock and bond market volatility moving forward. I am now getting a taste of how much psychology there is to all of this as we approach retirement.

[Anonymous]

Anonymous wrote:I hope people reading this realize this isn’t the norm by any means. Most people don’t have anywhere close to 1mil in their 30’s.

Of course not. Heck, most Americans overall have a networth barely above $100k by the time they retire. The only people who go out of their way to respond to a thread like this will be the uber 1%ers to make sure you know how much money they have. It's complete selection bias at the poll.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I hope people reading this realize this isn’t the norm by any means. Most people don’t have anywhere close to 1mil in their 30’s.

Of course not. Heck, most Americans overall have a networth barely above $100k by the time they retire. The only people who go out of their way to respond to a thread like this will be the uber 1%ers to make sure you know how much money they have. It's complete selection bias at the poll.

44 and 42. 1.5 million. 550k in equity, 100k in 529 700k in retirement and 150k in brokerage and e fund. We'll also have two pensions, one fed and one small private.

[Anonymous]

40 and 42, 3 kids. Net worth of 3.8 million. We have two homes, about 700k of equity. 1.3 mill in retirement accounts. Cash and other investments of about 1.8 million.

We have had no help from either of our parents, but I don't begrudge people who do. I would have welcomed help at any time!

Most of our net worth has been accumulated in the past 5 years since wife made partner in biglaw. I make government salary.

[Anonymous]

I’m 43. I work in education (I’m a chump who makes a crap salary, but I love working with students).

I have $620k between my 403B, Roth, and an inherited IRA. House is worth $430, but still $200k away from owning it. I have $64k liquid, but I need to get that money into something that will make money. I had been saving for a renovation, but I might move instead. So, $820k?

I thought I was doing well, but this thread has me wondering what else I should be doing. I did the max contribution to my 403b in my 20s and worked a second job to make ends meet. I do have a small side gig today, but it isn't consistent money.

[Anonymous]

Anonymous wrote:I’m 43. I work in education (I’m a chump who makes a crap salary, but I love working with students).

I have $620k between my 403B, Roth, and an inherited IRA. House is worth $430, but still $200k away from owning it. I have $64k liquid, but I need to get that money into something that will make money. I had been saving for a renovation, but I might move instead. So, $820k?

I thought I was doing well, but this thread has me wondering what else I should be doing. I did the max contribution to my 403b in my 20s and worked a second job to make ends meet. I do have a small side gig today, but it isn't consistent money.

I think this is pretty impressive on a teacher's salary. You also would be eligible for a pension, wouldn't you?

I am a Fed and was talking yesterday to a single colleague in her sixties. I am sure she is paid considerably more than you and I was shocked when she told me she had just $700,000 in her thrift plan. She does get a pension and medical plus SS so she'll be fine, but still....

[Anonymous]

I think it's no surprise that people who are closer to retirement (with HNW or not) are on boards trying to assess (not necessarily humble brag) their own situation, learn new ideas for how to make the best of what they have, and basically gather information. I gave no thought to retirement until recently, and the learning curve has been steep. You have little room to make mistakes the closer you get. And when you've had corporate healthcare your entire adult life, going into the future in terms of healthcare can cause concern.

I will also say that some of the best advice comes from the older members who are willing to share things they've done and give perspective.

[Anonymous]

Anonymous wrote:

Anonymous wrote:I’m 43. I work in education (I’m a chump who makes a crap salary, but I love working with students).

I have $620k between my 403B, Roth, and an inherited IRA. House is worth $430, but still $200k away from owning it. I have $64k liquid, but I need to get that money into something that will make money. I had been saving for a renovation, but I might move instead. So, $820k?

I thought I was doing well, but this thread has me wondering what else I should be doing. I did the max contribution to my 403b in my 20s and worked a second job to make ends meet. I do have a small side gig today, but it isn't consistent money.

I think this is pretty impressive on a teacher's salary. You also would be eligible for a pension, wouldn't you?

I am a Fed and was talking yesterday to a single colleague in her sixties. I am sure she is paid considerably more than you and I was shocked when she told me she had just $700,000 in her thrift plan. She does get a pension and medical plus SS so she'll be fine, but still....

No pension for the position I have, but thank you for making you feel better. This thread made me log into my TIAA-CREF and poke around a bit. Maybe I’ll make an appointment with the person who makes the rounds to talk to us once a year or so and see if there’s anything else I can do.

[Anonymous]

102 years old...$556,326,901. I win!!!!

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I’m 43. I work in education (I’m a chump who makes a crap salary, but I love working with students).

I have $620k between my 403B, Roth, and an inherited IRA. House is worth $430, but still $200k away from owning it. I have $64k liquid, but I need to get that money into something that will make money. I had been saving for a renovation, but I might move instead. So, $820k?

I thought I was doing well, but this thread has me wondering what else I should be doing. I did the max contribution to my 403b in my 20s and worked a second job to make ends meet. I do have a small side gig today, but it isn't consistent money.

I think this is pretty impressive on a teacher's salary. You also would be eligible for a pension, wouldn't you?

I am a Fed and was talking yesterday to a single colleague in her sixties. I am sure she is paid considerably more than you and I was shocked when she told me she had just $700,000 in her thrift plan. She does get a pension and medical plus SS so she'll be fine, but still....

No pension for the position I have, but thank you for making you feel better. This thread made me log into my TIAA-CREF and poke around a bit. Maybe I’ll make an appointment with the person who makes the rounds to talk to us once a year or so and see if there’s anything else I can do.

Have you underestimated your net worth? 403B, Roth and IRA=$620, home equity=$230, cash=$64. That comes to $914.

You are almost to a million!

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I’m 43. I work in education (I’m a chump who makes a crap salary, but I love working with students).

I have $620k between my 403B, Roth, and an inherited IRA. House is worth $430, but still $200k away from owning it. I have $64k liquid, but I need to get that money into something that will make money. I had been saving for a renovation, but I might move instead. So, $820k?

I thought I was doing well, but this thread has me wondering what else I should be doing. I did the max contribution to my 403b in my 20s and worked a second job to make ends meet. I do have a small side gig today, but it isn't consistent money.

I think this is pretty impressive on a teacher's salary. You also would be eligible for a pension, wouldn't you?

I am a Fed and was talking yesterday to a single colleague in her sixties. I am sure she is paid considerably more than you and I was shocked when she told me she had just $700,000 in her thrift plan. She does get a pension and medical plus SS so she'll be fine, but still....

No pension for the position I have, but thank you for making you feel better. This thread made me log into my TIAA-CREF and poke around a bit. Maybe I’ll make an appointment with the person who makes the rounds to talk to us once a year or so and see if there’s anything else I can do.

Have you underestimated your net worth? 403B, Roth and IRA=$620, home equity=$230, cash=$64. That comes to $914.

You are almost to a million!

I didn’t even add in cash. D’oh!

Ask me a question about human development or psychology and I got you. Thank god for TIAA-CREF and Vanguard for making sure I’m not left to my own devices when it comes to investing.

[Anonymous]

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:

Anonymous wrote:I’m 43. I work in education (I’m a chump who makes a crap salary, but I love working with students).

I have $620k between my 403B, Roth, and an inherited IRA. House is worth $430, but still $200k away from owning it. I have $64k liquid, but I need to get that money into something that will make money. I had been saving for a renovation, but I might move instead. So, $820k?

I thought I was doing well, but this thread has me wondering what else I should be doing. I did the max contribution to my 403b in my 20s and worked a second job to make ends meet. I do have a small side gig today, but it isn't consistent money.

I think this is pretty impressive on a teacher's salary. You also would be eligible for a pension, wouldn't you?

I am a Fed and was talking yesterday to a single colleague in her sixties. I am sure she is paid considerably more than you and I was shocked when she told me she had just $700,000 in her thrift plan. She does get a pension and medical plus SS so she'll be fine, but still....

No pension for the position I have, but thank you for making you feel better. This thread made me log into my TIAA-CREF and poke around a bit. Maybe I’ll make an appointment with the person who makes the rounds to talk to us once a year or so and see if there’s anything else I can do.

Have you underestimated your net worth? 403B, Roth and IRA=$620, home equity=$230, cash=$64. That comes to $914.

You are almost to a million!

I didn’t even add in cash. D’oh!

Ask me a question about human development or psychology and I got you. Thank god for TIAA-CREF and Vanguard for making sure I’m not left to my own devices when it comes to investing.

Net Worth...come on people there is still a couple hundred grand of taxes here people. It isn't all Roth.

[Anonymous]

Anonymous wrote:

Anonymous wrote:We are 49 and 54. Our net worth is pretty high-I’d say about 10mm+ which includes about $3 million in liquid or easily convertible funds. I know this will sound strange but I don’t feel a can just relax and enjoy because the only reason we have that money is because our parents left us so much. We have no mortgage because we inherited enough to pay of off on our $2m home. We have 3 others we bought as investments that we have also paid off.
BUT we feel strongly that we should pass on what we inherited plus what we have added during our lifetimes to our children to give them the security we have enjoyed just knowing we have financial safety. We do not live a wealthy lifestyle at all except that are paying for private schools for our kid’s and we will pay for college through to masters. Our HHI is $450k so we don’t really have to touch inheritance to live day by day.
We don’t spend money on 80% of what our friends spend money on -new cars every 3 years (we buy used and drive until dead) several holidays a year (we take one) l, upgrading furniture (never unless damaged) and plan to live on our pensions which will be more than enough since I work for an international organization on a decent salary and have a fully funded pension that will last until i die plus medical insurance.
We can have a pretty good though not extravagant life on that and leave what we have inherited plus what we added to that during our lives to our children.

I still only shop in sales, look around for bargains and discounts. I’ve learned how to dress as well as my contemporaries on a fraction of what they spend. They always ask where I bought this lovely outfit or that-usually consignment or eBay or Poshmark. I don’t think I could live without thinking about what I’m spending. I just don’t know how to do that.

I mean this kindly, PP, but it sounds like a good use of some of that money would be a therapist. You seem to have some pretty deep issues about money.

Disagree. Op is just smart and hasn’t let money change her